Yilport Holding has reached an agreement with Portugal's Mota - Engil Group and Novo Banco to acquire 100% of the shares of the Portuguese port management company, Tertir.
Yilport has been advised on the deal by VTB Capital, Banco Finantia and Erdem & Erdem Law Office. The transaction is expected to close by the end of this year and is subject to certain conditions precedent, including relevant regulatory approvals.
Following the completion of this acquisition, Yilport will reach a total annual container handling capacity of 10 million TEUs and an annual dry bulk handling capacity of 22 million tons. Additionally, the deal will increase Yilport's Global Port Terminal Network to 17 operations across 7 countries throughout Europe and Latin America.
Tertir's portfolio is comprised of ten port terminals in total: seven of which are in Portugal, two in Spain and one in Peru. Tertir's eight container terminals have an annual handling capacity of 2.7 million TEUs and the two break bulk and grain terminals have an annual capacity of approximately 4.5 million tons.
The port terminals in Portugal include the concessionaires Liscont and Sotagus, in the Port of Lisbon; TCL in the Port of Leixões (Oporto); Socarpor in Aveiro with two concessions; Sadoport and Tersado in Setúbal and a Liscont operation in Figueira da Foz. The port terminals in Spain include the Ferrol Container Terminal in Galicia and Concasa in Huelva, Andalucía. As a result of this investment, Yilport Holding will also own a 50% share of the Terminales Portuarios Euroandinos in Port the of Paita, Peru, the second largest port in terms of container movements and the main port in the north of the country.
Upon announcement of the acquisition, Yilport Holding's Chairman, Mr. Robert Yuksel YILDIRIM commented:
"Since entering the port operation and management business in 2005, Yilport Holding has become a global port terminal operator and continues to make steady progress in this sector. As a result of its investments in Turkey and abroad in recent years, Yilport Holding has become the foremost Port Operating Company in Turkey and the only Turkish company to be included in the Top 20 International Container Terminal Operators."